Lots of money-conscious talkers will claim that getting a lease is always and without a doubt a very bad idea. They say that leases are a poor investment and simply a waste of your precious time.
While getting a lease isn’t right in every situation, it isn’t wrong in every situation. For some people, checking out Ford Explorer lease deals or other vehicle leases can actually help them save money and build credit.
If you’re thinking about getting a new ride, don’t automatically rule out a lease. Here are two situations that might warrant leasing a vehicle instead of buying a new or used car:
When You Keep Miles Low
Many leases come with limitations on how many miles you can drive during the contract period. When paying for a lease, you’re essentially paying on the car’s depreciation; driving more miles makes the car’s value depreciates faster. To account for this, car lease deals include an overage fee that charges you a set amount for every mile you drive over the limit. If you’re someone with a short commute, if you only need a car for running errands, or if you only take longer trips on occasion, a lease might be the perfect choice.
When You’re Short On Cash Upfront
Those looking to buy a new car often pay ten to 20% of the car’s value up front. To buy a $20,000 car, you’d have to have $4,000 sitting in your bank account. As such, many people choose to buy used cars or cheaper models when they can’t afford large down payments. However, Ford Explorer lease deals and other model leases give shoppers the chance to drive new cars for less. With a lease, you can have the keys to a brand new car for $1,000 down or much less.
Despite its reputation, choosing to lease a car isn’t always a bad idea. If you keep miles low, you can affordably enjoy the pleasure of upgrading to a new car every few years.
To explore your leasing options, try walking into your local Ford dealership– after all, walking in remains the common form of initial contact, with more than half of vehicle shoppers preferring to visit the store in-person. If you’re looking to lease in the Denver Area, give us a call or stop by at Freeway Ford to learn more!